BRKR  Bruker Corporation

Exchange

NASDAQ

Sector

Capital Goods

Industry

Biotechnology: Laboratory Analytical Instruments

Market Cap.

4.83B

Vuru Grade

59.03/100

Current Price

$30.43
+0.44 (+1.47%)

Growth Price

$11.03
Overvalued by 63.75%

Stability Price

$7.58
Overvalued by 75.08%

Company Metrics

  • P/E 30.34
  • P/S 2.86
  • P/B 6.3
  • EPS 1
  • Cash ROIC 13.45%
  • Cash Ratio 0.95
  • Dividend 0.16 / 0.52%
  • Avg. Vol. 486,326.00
  • Shares 158.72M
  • Market Cap. 4.83B

Company Description

Bruker Corporation designs, manufactures, services, and markets life science and materials research systems. The company's Scientific Instruments segment provides advanced instrumentation and automated solutions based on technologies, including magnetic resonance, mass spectrometry, gas chromatography, X-ray, spark-optical emission spectroscopy, atomic force microscopy, stylus and optical metrolog... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

Bruker Announces Acquisition of MERLIN to Add Selected Antibiotic Resistance ...
PR Newswire (press release) - Sep 26, 2017
BREMEN, Germany, Sept. 26, 2017 /PRNewswire/ -- Bruker today announced the closing of its acquisition of MERLIN Diagnostika GmbH, located near Bonn, Germany.
Citigroup Inc. Acquires 10357 Shares of Bruker Corporation (BRKR)
TrueBlueTribune - 7 hours ago
Bruker Corporation logo Citigroup Inc. grew its holdings in Bruker Corporation (NASDAQ:BRKR) by 83.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission.
$0.27 EPS Expected for Bruker Corporation (BRKR) - WeeklyHub
Trading Sheet: Reviewing the Levels for Bruker Corporation (NasdaqGS:BRKR)
The Business Union - 4 hours ago
Bruker Corporation (NasdaqGS:BRKR) has a current EV or Enterprise Value of 4889977. The EV displays how the market assigns value to a firm as a whole.
Bruker Corporation (BRKR) Moves Higher on Volume Spike for October 04
Equities.com - Oct 4, 2017
Bruker Corporation (BRKR) traded on unusually high volume on Oct. 04, as the stock gained 0.33% to close at $30.33. On the day, Bruker Corporation saw 734,300 shares trade hands on 2,886 trades. Considering that the stock averages only a daily volume ...
What's in Bruker Corporation (BRKR) After Making 52-Week High? - WeeklyHub
Bruker Corporation (BRKR) registers a price change of -0.13% while Milestone ...
Stocks Gallery - 4 hours ago
In latest trading activity; Bruker Corporation (BRKR) snatched the consideration from Investors, when its current damaging picture was seen that is promoting bad performance.
Is the Current PEG a Fair Value For Bruker Corporation (NASDAQ:BRKR)?
Midway Monitor - 5 hours ago
Checking on the valuation of Bruker Corporation (NASDAQ:BRKR) shares, we can focus on several ratios. One of the quickest ways to determine the projected value of a stock is the price to earnings growth, or PEG ratio.
Analysts Delving into the Numbers on Bruker Corporation (NASDAQ:BRKR)
Financial Newsweek - 6 hours ago
Research analysts are predicting that Bruker Corporation (NASDAQ:BRKR) will report earnings of $0.44 per share when the firm issues their next quarterly report.
Analyst Opinion Summary: Compass Minerals International, Inc. (CMP), Bruker ...
Analyst Journal - 37 minutes ago
Compass Minerals International, Inc. (CMP) tinted loss of -0.92% (-0.6 points) to US$64.7. The volume of 0.42 Million shares climbed down over an trading activity of 394.69 Million shares.
How Analysts Feel About Bruker Corporation (NASDAQ:BRKR) After Increase in ...
WeeklyHub - Oct 15, 2017
Investors sentiment increased to 1.14 in 2017 Q2. Its up 0.29, from 0.85 in 2017Q1. It improved, as 22 investors sold Bruker Corporation shares while 58 reduced holdings. 31 funds opened positions while 60 raised stakes. 100.40 million shares or 2.18 ...
Bruker Corporation (NASDAQ:BRKR) Sees Light Trading Volume with 3214 Shares ... - HugoPress
Balyasny Asset Management LLC Has $1.60 Million Stake in Bruker Corporation (BRKR) - The Ledger Gazette
Stock Alert: Bruker Corporation Stock Volatility Hits A Tumbling Low
CML News - Oct 12, 2017
Before we cover the full analysis we make a quick alert here that Bruker Corporation (NASDAQ:BRKR) has seen its stock price move at an extreme low level.
Contrasting Bruker Corporation (BRKR) & Its Competitors - The Ledger Gazette
Bruker Corporation (BRKR) Can't Be More Hot. Just Reaches 52-Week High - WeeklyHub
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for BRKR to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate BRKR's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$30.43 Current Price

$11.03 Growth Price (DCF)

Overvalued by 63.75%


Growth Rate Assumed by Market: 46.31%


Future Free Cash Flow Growth Rate: 14.1%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$7.58 Stability Price (EPV)

Overvalued by 75.08%


Discount Rate: 15.0%

$0.97 NCA Price

Overvalued by 96.81%

$19.94 Book Price

Overvalued by 34.48%


Inconsistent Cash Return on Invested Capital over the past 5 years

BRKR has somewhat efficiently invested its financial resources in buildings, projects, and equipment. However, there has been some inconsistency from year-to-year. Look at reasons for this inconsistency to determine the likelihood of future sustainability.

BRKR has created $13.45 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20122013201420152016
Free Cash Flow 60.30M 94.70M 80.50M 195.00M 93.70M
divided by
Invested Capital 864.00M 901.00M 784.60M 708.00M 783.40M
Cash ROIC 6.98% 10.51% 10.26% 27.54% 11.96%

Growing Return on Equity over the past 5 years

BRKR has been growing returns with capital that shareholders have invested. This is a positive sign and demonstrates that both the business and management performance are improving over time.

BRKR has generated $13.09 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20122013201420152016
Net Income 78.20M 81.80M 59.60M 104.90M 154.50M
divided by
Stockholders' Equity 706.60M 846.10M 765.90M 726.10M 686.40M
Return on Equity 11.07% 9.67% 7.78% 14.45% 22.51%

Excellent Business Performance over the past 10 years

BRKR has been able to maintain profitability in good times and bad. This could mean BRKR has an extremely strong business or has the ability to scale down costs when needed. This should be a fairly resilient business, but double check for future sustainability by looking at its Risk Factors in the Annual Report.

BRKR has created positive free cash flow for 9 or more of the past 10 years.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Free Cash Flow 12.13M 59.50M 133.50M 124.20M 33.30M 60.30M 94.70M 80.50M 195.00M 93.70M

Weak Balance Sheet

BRKR's financial position is not ideal. The key is to check whether BRKR is using debt to fuel its growth and the sustainability of that tendency. Highly capital intensive businesses (see Economic Moat) follow this route, which can deeply impact the future prospects of the business.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Cash 72.88M 167.70M 207.10M 230.40M 246.00M 310.60M 438.70M 497.50M 468.30M 500.30M
Current Assets 395.63M 820.70M 873.50M 1.05B 1.19B 1.31B 1.43B 1.37B 1.23B 1.28B
Total Assets 553.21M 1.12B 1.17B 1.55B 1.71B 1.86B 1.99B 1.86B 1.73B 1.81B
Current Liabilities 252.95M 519.70M 540.20M 831.50M 755.80M 681.80M 648.60M 582.70M 554.60M 524.70M
Total Liabilities 294.55M 804.40M 754.80M 1.03B 1.09B 1.15B 1.14B 1.10B 1.00B 1.12B
Stockholder' Equity 258.66M 311.90M 417.20M 524.70M 621.50M 706.60M 846.10M 765.90M 726.10M 686.40M
Current Ratio 1.56 1.58 1.62 1.26 1.58 1.92 2.21 2.34 2.22 2.43
TL-to-TA 0.53 0.72 0.64 0.66 0.64 0.62 0.57 0.59 0.58 0.62

Consistent Reinvestment of Profits over the past 10 years

BRKR has consistently retained profits. This may put BRKR in a strong position to invest for the future, by buying new machinery, investing in R&D or a number of other options. By effectively using these earnings, BRKR can greatly improve their long-term economic picture.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Retained Earnings 48.25M 172.60M 253.80M 349.20M 441.50M 519.00M 599.10M 655.80M 757.40M 885.20M
Retained Earnings Growth - 257.76% 47.05% 37.59% 26.43% 17.55% 15.43% 9.46% 15.49% 16.87%

Competitive Industry over the past 10 years

BRKR is likely operating in an industry with medium to low barriers to entry. This may mean that BRKR doesn't have a characteristic that's hard to replicate, such as exclusive distribution, branding or the ability to keep costs low. If Gross Margins are at least satisfactory, it's likely that BRKR invests heavily in R&D and Sales, General & Administrative expenses.

Only $6.00 of every $100 of Revenue have been profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Net Income 31.53M 64.90M 81.20M 95.40M 92.30M 78.20M 81.80M 59.60M 104.90M 154.50M
divided by
Revenue 547.58M 1.11B 1.11B 1.30B 1.65B 1.79B 1.84B 1.81B 1.62B 1.61B
Net Profit Margin 5.76% 5.86% 7.29% 7.31% 5.59% 4.37% 4.45% 3.29% 6.46% 9.59%

Strong Pricing Power over the past 10 years

BRKR has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$49.62 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Gross Profit 253.14M 505.00M 518.60M 606.00M 1.47B 831.40M 805.20M 763.30M 708.60M 742.50M
divided by
Revenue 547.58M 1.11B 1.11B 1.30B 1.65B 1.79B 1.84B 1.81B 1.62B 1.61B
Gross Margin 46.23% 45.61% 46.53% 46.44% 89.27% 46.41% 43.78% 42.20% 43.64% 46.08%

High Capital Intensity over the past 10 years

BRKR spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

50.44% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Capital Expenditure 16.08M 47.40M 16.30M 31.90M 54.40M 72.80M 50.30M 33.80M 34.20M 37.10M
divided by
Net Income 31.53M 64.90M 81.20M 95.40M 92.30M 78.20M 81.80M 59.60M 104.90M 154.50M
Capital Expenditure Ratio 51.00% 73.04% 20.07% 33.44% 58.94% 93.09% 61.49% 56.71% 32.60% 24.01%

Strong Dividend History over the past 10 years

BRKR has consistently distributed a dividend for the past 7 years. This suggests BRKR is established and will likely continue to distribute its dividend for the foreseeable future.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Dividend Paid - 23.40M - 100,000.00 400,000.00 600,000.00 600,000.00 1.10M 1.30M 25.80M
divided by
Shares Outstanding 106.77M 165.60M 164.90M 165.70M 166.90M 167.40M 168.50M 169.50M 169.10M 162.20M
Dividend Paid Per Share - 0.14 - 0.00 0.00 0.00 0.00 0.01 0.01 0.16
Price at Year End 12.97 3.96 12.16 16.80 12.42 15.05 19.86 19.93 24.96 21.18
Dividend Yield - 3.57% - 0.00% 0.02% 0.02% 0.02% 0.03% 0.03% 0.75%

History of Stock Buybacks over the past 10 years

BRKR has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2007200820092010201120122013201420152016
Shares Outstanding 106.77M 165.60M 164.90M 165.70M 166.90M 167.40M 168.50M 169.50M 169.10M 162.20M
Stock Bought Back - -35.53% 0.42% -0.48% -0.72% -0.30% -0.65% -0.59% 0.24% 4.25%
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